Retail Food Group

What Retail Food Group does

Retail Food Group Limited (ASX:RFG) is an Australian public company headquartered in Robina, Queensland, that describes itself as Australia's largest multi-brand retail food franchise owner and operator. Founded in 1989 and listed on the ASX in June 2006, RFG owns and franchises more than a dozen consumer food and beverage brands across the donuts, coffee, bakery, pizza, pie, patisserie, BBQ and now sandwich categories. Core brands include Donut King (200+ stores), Crust Pizza (130+ stores), Gloria Jean's Coffees, Brumby's Bakery, Beefy's Pies, Rack'em Bones (a virtual-kitchen brand in 100+ locations), Michel's Patisserie, CIBO Espresso, Café2U, The Coffee Guy, Café Palazzo, Pizza Capers, and Di Bella Coffee (a vertically integrated roaster and supplier). A Firehouse Subs launch is targeted for Q4 2026.

RFG operates a traditional business-format franchising model. Franchisees run their outlets as independent small businesses, contributing initial franchise fees plus ongoing franchise, royalty and marketing levies in exchange for brand rights, training, operational systems and ongoing support; applications pass through Brand Management, Legal, Finance, Sales/Leasing and L&D and take 3–5 months to approve. Consumer-facing channels include franchise stores, brand websites (crust.com.au, donutking.com.au, brumbys.com.au, dkoccasions.com.au, order.beefys.com.au), third-party delivery aggregators (UberEats, DoorDash), and brand-loyalty programs (Brumby's Rewards, Beefy's Rewards Club).

The company's revenue model combines recurring franchise and marketing levies with transactional revenue from coffee roasting and supply (Di Bella), retail product supply to franchisees, direct-to-consumer e-commerce (Donut King Occasions), and international master franchise / area developer royalties. For H1 FY2026, RFG reported domestic network sales of A$254.6 million (–1% YoY) and underlying EBITDA of A$9.2 million (–43% YoY), reflecting compressed coffee margins, elevated green-bean costs and delays commissioning an international supply hub in Türkiye. The business has 501–1,000 employees, and a three-pillar transformation program is underway targeting A$5.7–7 million of annualised cost savings by FY27.

Name

Retail Food Group

Legal name

Retail Food Group Limited ACN 106 840 082

Website

https://rfg.com.au

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Retail Food Group (ASX:RFG) is Australia's largest multi-brand retail food franchise owner, listed on the ASX and headquartered in Queensland. It owns brands including Donut King, Gloria Jean's, Brumby's, Crust Pizza, Beefy's, Rack'em Bones, and Di Bella Coffee, generating revenue from franchise fees, royalties, supply sales, and coffee roasting.

Ownership category

akta.pro rank

Product category

Multi-brand retail food and beverage franchising

NAICS

Specialty Food Retailers (4452), Retail Bakeries (311811)

SIC

Retail-Eating & Drinking Places (5810), Retail-Eating Places (5812)

akta.pro primary industry

Coffee Chains & Franchise Cafes (THAFADAB)

Keywords

• Retail food franchising
• Multi-brand franchise management
• Coffee roasting supply
• Bakery franchise operations
• Franchise development services

Headquarters

HQ city

Southport

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Franchise Fees and Levies: Franchisees contribute franchise and marketing levies in exchange for an established brand, systems and ongoing technical, operational, marketing, business support and intellectual property. This includes initial franchise fees and ongoing royalty/marketing contributions.
2. Retail Store Product Sales: Revenue generated from the sale of food and beverage products through franchisee-operated retail stores across RFG's brand network, including donuts, pizza, bakery items, coffee, and pies.
3. Coffee Roasting and Supply: RFG roasts and supplies high-quality coffee products, operating as both a roaster and a supplier. Compressed coffee margins and higher green coffee bean costs have been noted as impacting financial performance.
4. Master Franchise and International Licensing: RFG offers international master franchise opportunities and area developer agreements, enabling overseas expansion under its brand systems (e.g., Gloria Jean's international).

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Retail Food Group (RFG) owns, develops and manages more than twelve retail food and beverage franchise brands across Australia, including Donut King, Crust Pizza, Brumby's Bakery, Gloria Jean's Coffees, Beefy's Pies, Michel's Patisserie, Rack'em Bones BBQ Ribs, Pizza Capers, CIBO Espresso, Café2U, The Coffee Guy and Café Palazzo, with Firehouse Subs scheduled for an Australian launch in Q4 2026. The company earns franchise fees, marketing levies and royalties from its franchisee network of 600+ stores, and also operates Di Bella Coffee as a roaster and wholesale supplier and Donut King Occasions as a nationwide donut delivery service for gifting and catering.

Product overview

Retail Food Group (RFG) is a multi-brand retail food and beverage franchise company operating Australia's largest franchise network. The portfolio comprises multiple distinct sub-brands: Donut King (iconic donuts including hot cinnamon donut), Gloria Jean's (premium coffee), Brumby's (bakery), Crust Pizza (premium pizzas and lunch items), Beefy's (award-winning pies), Rack 'em Bones (BBQ ribs virtual kitchen), and Firehouse Subs (sandwiches launching Q4 2026). Additional brands include Michel's Patisserie, CIBO Espresso, Café2U, The Coffee Guy, Café Palazzo, and Pizza Capers. RFG also operates Donut King Occasions, a nationwide delivery service for gifting and catering. The company roasts and supplies high-quality coffee products across its network and offers franchise opportunities across all brands.

Differentiator

Problem solved

Functional benefit

Brands

• Donut King Occasions: Nationwide donut delivery service for gifting and catering, launched July 2024
• Rack'em Bones
• Donut King Occasions

Products and services

• Donut King franchise system Donut King is Australia's most iconic donut brand and home of the hot cinnamon donut for over 40 years. The franchise system sells flavoured donuts, seasonal limited-edition products and catering services through more than 200 franchisee-operated stores across Australia.
• Crust Pizza franchise system Crust Pizza is a premium handcrafted pizza franchise brand offering traditional and gourmet pizzas, the Crust High Protein Base, and lunch items such as Italian Piadina sandwiches through 130+ stores nationwide.
• Brumby's Bakery franchise system Brumby's Bakery franchise offers fresh artisan bread, pastries, gourmet cookies and seasonal treats including the Brumby's Rewards Members loyalty program, supported by the 'Handcrafted by Local Bakers' campaign.
• Gloria Jean's Coffees franchise system Gloria Jean's is a specialty coffee franchise offering high-quality, ethically sourced coffee drinks in stores across Australia and internationally via master franchise partners.
• Beefy's franchise system Beefy's is an award-winning pies and pastry franchise offering pies and pastries made with local ingredients, including gluten-free options endorsed by Coeliac Australia, with a Beefy's Rewards Club loyalty program.
• Rack'em Bones virtual kitchen franchise system Rack'em Bones is a virtual-kitchen brand specialising in southern USA-style smokehouse BBQ ribs and meats, available in 100+ delivery-only locations across Australia and powered by an average of 1.5 tonnes of ribs delivered per week.
• Donut King Occasions nationwide donut delivery service Donut King Occasions is a direct-to-consumer nationwide donut delivery service for gifting, catering and special occasions, offering Donut King donuts to homes, businesses and events with next-day delivery.
• Firehouse Subs Australian franchise system Firehouse Subs is a US-origin sandwich and sub franchise scheduled for an Australian launch in Q4 2026, becoming the newest addition to RFG's multi-brand food franchise portfolio.
• Michel's Patisserie franchise system Michel's Patisserie is the patisserie franchise within the RFG portfolio, offering cakes, slices, pastries and sweet treats under the Michel's brand.
• Di Bella Coffee roasting and wholesale supply Di Bella Coffee is the in-house coffee roaster and wholesale supplier for RFG's franchise network, providing vertically integrated coffee bean sourcing, roasting and supply for brands such as Gloria Jean's and The Coffee Guy.
• Café2U mobile coffee franchise system Café2U is the mobile coffee franchise within RFG, deploying mobile coffee vans for coffee service at workplaces, events and on-the-go locations across Australia.
• Beefy's Rewards Club Beefy's Rewards Club is the customer loyalty program for Beefy's pie and pastry customers, offering rewards and exclusive offers tied to purchases at participating Beefy's stores.

Quantifiable outcome

• Over half a million donuts and a quarter of a million coffees sold by a single Donut King franchisee store since 2006
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Five partnerships are on record, tiered flagship, core and minor.

• TABASCO® (McIlhenny Company)flagshipGTM or Marketing Partner · 8 October 2025Donut King partnered with TABASCO® brand to launch the limited-edition 'Bloodshot' Halloween donut made with TABASCO® Sauce in a ghoulish eyeball creation. The partnership combined sweet and spicy flavours as part of Donut King's 2025 Halloween range. The product was available in stores and via UberEats and DoorDash from October 8 to November 2, 2025.
• Ovolo HotelsflagshipGTM or Marketing Partner · 27 May 2025Donut King collaborated with award-winning designer hotel collection Ovolo Hotels to create the 'Hot Cinni Hotel' — a fully immersive hotel takeover in celebration of National Donut Day. Two 'Hot Cinni Suites' were created at Ovolo Hotel's heritage-listed Woolloomooloo wharf location in Sydney. The partnership included a cinnamon-inspired cocktail ('Cinnitini'), cinni-inspired bar bites, and complimentary room service donuts for hotel guests from June 6–9, 2025.
• Rack'em Bones (Virtual Kitchen Collaboration)flagshipStrategic or Co-development Partner · 23 July 2024Crust Pizza partnered with fellow RFG brand Rack'em Bones BBQ Ribs to launch an exclusive range of three limited-edition pizzas blending Rack'em Bones' southern USA smokehouse meats with Crust Pizza's premium pizza offering. Three pizzas launched: Tennessee Pork 'n Apple, Rackem's Brisket + Pineapple, and Hot Honey Chicken Royale. The collaboration also introduced Peri Peri Wings and Peri Peri Chicken Loaded Chips to the Rack'em Bones menu.
• National Retail Association (NRA)coreImplementation/ SI/ Consulting PartnerRFG collaborates with the National Retail Association (NRA) to provide franchisees with training, materials, workshops, a national toll-free workplace advice line, and an online resource platform to ensure compliance with wage entitlement laws and broader workplace obligations.
• Computershare Investor ServicesminorOthersRFG's share registry is managed by Computershare Investor Services. Shareholders can access the registry via the Computershare website or phone (1300 850 505).

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Domino's Pizza Enterprises: ASX-listed (ASX:DMP) master franchisor of Domino's Pizza across Australia, Europe, and Asia. Directly comparable to RFG's Crust Pizza in product category (pizza QSR), franchise model, store count, and Australian consumer base.
• Collins Foods Limited: ASX-listed (ASX:CKF) operator and franchisee of KFC and Taco Bell restaurants in Australia, Europe and Asia. Directly comparable to RFG as a multi-brand Australian QSR franchise operator of comparable scale and public-market profile.
• Craveable Brands: Australian owner-operator franchise group for Red Rooster, Oporto, and Chicken Treat, operating hundreds of QSR outlets. Directly comparable to RFG as an Australian multi-brand QSR franchise portfolio operator serving similar consumer occasions.
• Krispy Kreme: Global specialty donut retailer with franchised and company-operated stores in Australia. Direct comparable to RFG's Donut King in product (donuts/confectionery QSR), franchise model, and Australian operating geography.
• Tim Hortons: Canadian donut and coffee chain with an expanding Australian footprint via franchising. Comparable to RFG as a franchise-led donut/coffee concept operating in the same Australian consumer occasion space as Donut King and Gloria Jean's.

Broad incumbents

• Yum! Brands: NYSE-listed (NYSE:YUM) global multi-brand QSR franchisor (KFC, Pizza Hut, Taco Bell, Habit Burger). Comparable to RFG as a globally diversified QSR franchise operator and brand portfolio company, though at vastly greater scale and global reach.
• Restaurant Brands International: NYSE-listed (NYSE:QSR) multi-brand QSR franchisor (Burger King, Tim Hortons, Popeyes, Firehouse Subs). Notably, Firehouse Subs is currently a RBI brand, which makes RBI a particularly comparable incumbent as RFG plans to launch Firehouse Subs under franchise in Australia via its 2026 strategy.
• Inspire Brands: Private US multi-brand QSR franchisor (Arby's, Buffalo Wild Wings, Sonic, Dunkin', Baskin-Robbins, Jimmy John's). Comparable to RFG as a multi-brand franchise platform company pursuing brand cross-pollination and shared infrastructure across categories including coffee/donuts.
• Costa Coffee: UK/Australia specialty coffee chain acquired by The Coca-Cola Company. Comparable to RFG's Gloria Jean's as a specialty coffee chain franchise concept with international presence and similar product/occasion positioning in Australian retail food and beverage.

Others

• JDE Peet's: Global coffee and tea roasting and wholesale group (parent of L'OR, Jacobs, Douwe Egberts). Comparable to RFG's Di Bella Coffee roasting/supply operations as a vertically integrated coffee roaster serving retail and foodservice channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/donutking_au

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Retail Food Group